Mr. Powell, who told lawmakers that the Fed would have preferred to keep those lending programs going while acknowledging that it was Mr. Mnuchin’s place to decide, painted a more dire picture of the economic outlook.
He pointed to continued uncertainty around the speed of a vaccine rollout, the reality that millions remain out of work and the fact that small businesses could fail in the winter months.
“We do have a long way to go,” Mr. Powell said.
The measure would provide $160 billion to help state, local and tribal governments facing fiscal ruin — a fraction of what Democrats had sought.
Also included was $288 billion to help small businesses, restaurants and theaters, and a short-term federal liability shield from coronavirus-related lawsuits.
Powell, ” Mr, ”, Biden, “, Mnuchin, —, Joe Manchin, Susan Collins, Nancy Pelosi, McConnell
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United States, West Virginia, Maine, California